Brokerages Set CNX Resources Co. (NYSE:CNX) Price Target at $30.83

CNX Resources Co. (NYSE:CNX) has received a consensus rating of “Reduce” from the fourteen brokerages that are currently covering the stock, MarketBeat Ratings reports. Eight analysts have rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $30.92.

Several equities analysts have recently issued reports on the stock. Roth Capital set a $30.00 price objective on shares of CNX Resources in a report on Thursday, January 23rd. JPMorgan Chase & Co. raised their target price on CNX Resources from $32.00 to $33.00 and gave the company an “underweight” rating in a research report on Thursday, March 13th. TD Cowen assumed coverage on shares of CNX Resources in a research report on Wednesday, January 15th. They set a “hold” rating and a $27.00 price target on the stock. Raymond James raised shares of CNX Resources from an “underperform” rating to a “market perform” rating in a research note on Tuesday, February 18th. Finally, Morgan Stanley set a $33.00 price objective on CNX Resources and gave the stock an “underweight” rating in a research report on Wednesday, March 26th.

Hedge Funds Weigh In On CNX Resources

Institutional investors have recently added to or reduced their stakes in the stock. Bessemer Group Inc. increased its holdings in CNX Resources by 131.5% in the fourth quarter. Bessemer Group Inc. now owns 926 shares of the oil and gas producer’s stock valued at $34,000 after buying an additional 526 shares in the last quarter. Xponance Inc. boosted its position in CNX Resources by 2.9% during the 4th quarter. Xponance Inc. now owns 20,876 shares of the oil and gas producer’s stock worth $766,000 after purchasing an additional 588 shares during the period. Principal Securities Inc. raised its stake in shares of CNX Resources by 38.5% during the fourth quarter. Principal Securities Inc. now owns 2,484 shares of the oil and gas producer’s stock valued at $91,000 after purchasing an additional 691 shares during the period. SeaBridge Investment Advisors LLC grew its stake in CNX Resources by 0.8% during the 4th quarter. SeaBridge Investment Advisors LLC now owns 90,301 shares of the oil and gas producer’s stock valued at $3,311,000 after purchasing an additional 759 shares in the last quarter. Finally, Pullen Investment Management LLC lifted its position in shares of CNX Resources by 2.7% during the fourth quarter. Pullen Investment Management LLC now owns 32,151 shares of the oil and gas producer’s stock worth $1,179,000 after purchasing an additional 841 shares during the last quarter. Institutional investors and hedge funds own 95.16% of the company’s stock.

CNX Resources Trading Up 4.3 %

CNX stock opened at $29.35 on Friday. CNX Resources has a twelve month low of $22.82 and a twelve month high of $41.93. The company has a quick ratio of 0.32, a current ratio of 0.33 and a debt-to-equity ratio of 0.45. The stock has a market capitalization of $4.32 billion, a price-to-earnings ratio of -43.16, a price-to-earnings-growth ratio of 0.42 and a beta of 1.33. The firm’s fifty day simple moving average is $30.13 and its two-hundred day simple moving average is $33.29.

CNX Resources (NYSE:CNX) last released its quarterly earnings data on Thursday, January 30th. The oil and gas producer reported $0.57 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $0.14. CNX Resources had a negative net margin of 7.14% and a positive return on equity of 6.72%. As a group, analysts anticipate that CNX Resources will post 2.18 earnings per share for the current year.

CNX Resources Company Profile

CNX Resources Corporation, an independent natural gas and midstream company, engages in the acquisition, exploration, development, and production of natural gas properties in the Appalachian Basin. The company operates in two segments, Shale and Coalbed Methane (CBM). It produces and sells pipeline quality natural gas primarily for gas wholesalers.